sales tax

raj kumar (Querist) 04 May 2010 This query is : Resolved
i have sent goods infavour of A, but due to address problem he did not received the same and the goods returned to godown. but in the mean time i have submitted my quarterly vat return. what shall i do now?

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raj kumar (Querist) 04 May 2010
plz reply soon

soumitra basu (Expert) 05 May 2010
1. Cancel the bill and submitted the revised return within the next quarter.
2. Treat the goods as Sales Return. Reduced the next quarter sales by this sales return and submit vat return at the appropriate time.

A V Vishal (Expert) 05 May 2010
Rightly advised by Mr Basu.

AMIT BAJAJ ADVOCATE (Expert) 05 May 2010
Please do mention about the state vat act under which you are registered while asking the querries relating to vat.

If you are covered under Punjab VAT Act 2005 there is no provision for revised return. However you can correct it u/s 26(4) in the next return due to be filed by showing it as sales return.

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